Collection docs include a bill of exchange which states maturity date: 30 DEC 2012
Collection schedule (not mention any tenor) states as follows:
+ maturity date: 30 DEC 2012
+ delivery documents against payment
This collection instruction means that: Delivery docs against payment, and the payment is effected at maturity date 30 DEC 2012?
Instruction Shows "Delivery Against Payment" & Maturity Date
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ngochuong
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picant
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Art 7 a, b, c URC 522
Hi Pal,
as per a.m. articles and naturally if the collection in under ICC publ. 522,
documents must be delivered only after full payment.
I know that some time a usance draft is enclosed when payment is on arrival of vessel, in this case the drawee will accept the draft showing the intention to pay when the goods will be at the port of discharge.
This acceptance will comfort the seller that goods will be taken up.
Other comments appreciated
Ciao
as per a.m. articles and naturally if the collection in under ICC publ. 522,
documents must be delivered only after full payment.
I know that some time a usance draft is enclosed when payment is on arrival of vessel, in this case the drawee will accept the draft showing the intention to pay when the goods will be at the port of discharge.
This acceptance will comfort the seller that goods will be taken up.
Other comments appreciated
Ciao